GENEVA - Chinese Ambassador to the World Trade Organization (WTO) Zhang Xiangchen on Monday rejected the US accusation that China has abused joint venture requirements to achieve technology transfer, saying the United States is one of the main beneficiaries of technology transfer.

Zhang was speaking at a session of the WTO's Dispute Settlement Body (DSB), in response to the US claims that China's policies create legal conditions for Chinese economic actors to effectively coerce foreign companies to transfer technology to Chinese firms.

"The transfer of technology from the US companies to China is a normal business. It is done based on mutually agreed terms between the businesses, and such transactions represent the companies' own will," said Zhang, underlining that "the principles of commercial considerations, contractual freedom and market competition are fully observed in these transactions."

The Chinese diplomat noted that the United States is the largest beneficiary of technology transfer, while China, as a developing country, is one of the main export destinations of US technology.